|President and ChiefExecutive Officer|
"We were plumbers," says Marianne Brown, speaking for those who toiled unappreciated in middle and back offices while advances in more-visible, customer-facing technologies brought glory to others. "Now we are the subject of boardroom conversations about counterparty risk." In other words, the financial world has changed thanks to at least a couple of crises that exposed newfound risks in the 11 years since Depository Trust & Clearing Corp. and Thomson Corp. (now Thomson Reuters) created Omgeo. The joint venture has picked up the pace in agility and responsiveness during Brown's five years as president and CEO. It serves 6,500 buy-side, sell-side and custody clients through main offices in Boston and New York and 13 other offices in 12 countries. Omgeo's automation and standardization of equity and fixed-income trade confirmations and settlement instructions have cut users' costs by hundreds of millions of dollars. Technology has allowed Omgeo to accommodate growth and expand into exchange-traded derivatives without significantly increasing head count, though Brown, 53, has added key senior staff, including a chief compliance officer. "The regulatory pressures are here to stay," asserts Brown, who spent the bulk of her pre-Omgeo career as general manager of ADP Brokerage Services Group.